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Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
 The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. However, in most cases tonnage supply has been more than enough to meet demand and rates have been moving sideways as a result.
At the same time the CPP markets are not supporting the situation at all, while a trade war between China and USA is having its own effect in certain routes. Additionally, changes on import/export taxes in the regional palm oil market are also shaping the cargo flow.
As things stand, fundamentals in the veg oil market ex- South America are in charterers favour. CPP freights in the West have been in the doldrums and this is having an effect on veg oil freights as well, as several CPP owners try to find leverage on alternative markets. In addition, an increased import of CPP into Argentina/Brazil is building a long tonnage list in the South Atlantic. As if there were not enough negative factors in the market, the threat of China imposing import taxes on US agricultural products, including soy beans, is causing additional headache to traders.
The tax, which is considered a countermeasure on taxes already imposed by US on several products imported from China, is making traders cautious. This is to say that while soybean price from US has depreciated, the premium gained on the back of it by the soybean price from Argentina and Brazil, has in many cases made the product too expensive for the local crushers to buy. For the record, freight rates are still moving sideways at last done levels, USD mid-30s pmt bss 2/2 (South America/ India) on min 40,000mt.
Freight rates from the Black Sea are currently under pressure. While there is a steady flow of cargoes, the poor CPP market is pushing more Handy and MR tankers to look at loading sunflower oil from the Black Sea, however, shipments for the latter size are becoming scarcer lately. The 30-35,000mtons parcels to India are currently paying about USD high-30s/low-40s, while 35-40,000mtons parcels to China are paying about USD mid-40s, depending on port combination.
The long-haul palm oil market has generated some decent rates during the past month. However, given that the tonnage list for May is longer, unless there is an increase in activity, the positive trend is unlikely to continue. The rates for FOSFA MR ships on a TC Trip Far East/Europe are currently between 15,500-16,500 USD/pd.
Looking into the regional market, it is evident that the increased tax by 14% on India’s palm oil imports has had a significant impact on the country’s buying interest. On the contrary, Malaysia’s decision to suspend export taxes on CPO until the end of April has been partly offsetting the lack of activity in the region. Moreover China’s recently imposed 25% tariff on US soybean imports could generate a growth in demand for regional palm oil, as CPO can be used as an alternative in certain circumstances.
By Stelios Kollintzas
Specialized Products
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Parliament of New Zealand
- Economic Council, Georgia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
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